Just two years after a crippling salary dump mandated by the team's previous owners, the Islanders are on the verge of awarding the longest and richest contract in NHL history to their newest star player, restricted free agent Alexei Yashin.

Newsday has learned that team owner Charles Wang has signed off on an unprecedented 10-year contract offer to Yashin worth about $90 million.

Negotiations between general manager Mike Milbury and Yashin's agent, Mark Gandler, have not reached completion, but several team and league sources confirmed yesterday that the lucrative foundation of the long-term contract is all but settled.

Gandler could not be reached for comment. Yashin, working out in Switzerland, also could not be reached for comment.

Milbury refused to comment on the negotiations yesterday but did say he was "optimistic" regarding his talks with Gandler. "We expect to have both players signed in time for training camp," Milbury said, also referring to the team's other key offseason acquisition, Michael Peca.

Peca, also a restricted free agent, told Newsday last week that he expects to sign "sooner rather than later." Peca's contract also will be a long-term deal, but the length won't exceed five years.

The news is a far cry from the summer of 1999, when the Islanders, under previous owners Howard and Edward Milstein and Steven Gluckstern, dumped about $10 million in salaries - including a trade of the team's only recognizable star in Zigmund Palffy to the Los Angeles Kings - and carried a league-low $15-million payroll through the 1999-2000 season. Last season, the first under Wang and co-owner Sanjay Kumar, the Islanders' payroll increased to $25 million. It is expected to exceed $30 million for the upcoming season but still remain slightly below the league average.

Now Yashin, who turns 28 on Nov. 5 and is one of the top centers in the NHL, will be locked up for virtually the rest of his career. He would have been eligible for unrestricted free agency in the summer of 2005. "At least they won't ever have to worry about him and contracts," one NHL executive said.

As a member of the Ottawa Senators, Yashin sat out the 1999-2000 season while refusing to play out the final year of his previous contract, which paid him $3.6 million, because he wanted the Senators to renegotiate his salary. An NHL arbitrator ruled against him and he returned to the team last season to complete his contractual obligation. The Senators then dealt him to the Islanders in June in exchange for defenseman Zdeno Chara, forward Bill Muckalt and the second overall pick in the 2001 draft.

One fear in trading for Yashin was getting him signed. He reportedly was seeking about $8 million per season. Yashin is expected to sign his new contract within a week or two.

The contract may be the biggest in NHL history, but Yashin won't be the highest-paid player in the league annually. Jaromir Jagr will make $10,033,333 next season with the Capitals.

Gandler could not be reached for comment. Yashin, working out in Switzerland, also could not be reached for comment.
I can not wait ........to see..........the look.........on this wang guys face when he asks mike "i`ll fix it even if it ain`t broke" milbury WHY, OH WHY? is mr yashen not putting pucks in the net in this playoffs? ( that is if they make the playoffs).
It is unconceavable to me , why anyone would even think that this bum is worth that much money. did they not ask the question,.... why he didn`t show up in ottawa? were they asleep for the past three seasons and maby nobody told them as a joke or something?
I will go on the record as saying the biggest deal the islanders made is MIKE PECA, MIKE PECA, and MIKE PECA. if the islanders make it to the playoffs, and advance, it will be do to the the real hockey genious of that man, he is a hockey players hockey player and the biggest signing this pre season . period!

What??.... I don't get it.... that doesn't make any sense... I have no clue what you are talking about.

budman2 -- agreed... Peca's a great leader -- ten times more a leader than "Ca$hin' Ya$hin'." .... he leads by both example (work ethic, etc.) , and also by his "intangibles" ...... The Sabres did OK without him last year -- but with Hasek -- , and we might see the Sabres do OK this year even if they had lost Hasek, but kept Peca.....

Peca was told by Buffalo coaches to concentrate on shutting the other team's top players down.He concentrated on defense first,then when contract time came the team threw his low numbers at him,offering him $2.5 million.His wife has family on LI and they are both saying they are happy to be on LI. $4million a yr for 5 yrs is a pretty nice deal for Peca.I knew there was some speculation that the NYI couldn't pay these guys.

www.faceoff.com has an article on Peca.He was quoted as saying he expects to sign his new deal in1-2 weeks.NY press reports it'll be 4 yrs/$20 million.Milbury and Gandler are both on vacation.Lot of speculation that the team wants to sign them both at the same time,have a big news conference.

Originally posted by mjames Are kidding me or what? I meant that you are were probably angry when Ya$hin got the big deal...

not.... really....... I'm disgusted he's getting the biggest deal in NHL history.... but I'm not "angry".... I don't feel much different towards him than I do to Martin Lapointe, who Boston signed to a $5-million deal (300% raise from last season), but is definitely not worth that much money... especially if the Bruins won't pay their leading scorer, Jason Allison, that much money, or give him a raise.

A-Rod is not worth $252 million.
Alexei Yashin is not worth $90 million.
Martin Lapointe is not worth $5 million.

....if the Rangers want to pay $25.2/year to Rodriguez... go ahead!... fi the Bruins want to pay Lapointe $5/year, go ahead!!... and if the Islanders want to pay Yashin $9 million per year for ten years and get nothing come April then... well... go ahead... all I know is that I'm happy that I don't have a choker like Ca$hin' Ya$hin' on my team.

SC-Lee the first time I came to this board,I read two uninformed articles about the NYI.You wrote one.Take my word for it.You are angry.Your article showed no indepth info on the team,just petty insults.You stated that Haller was their only quality defenseman,when in fact,the team was so uninmpressed by Haller,they had put just Haller on waivers.You told me in a post that you were an NYI fan,yet you have an Ottawa Sens logo under your name.What,couldn't find the NYI logo.

Well, looks like the Islanders are finally going to start committing...I'm just not sure if they're committing to the right man. I mean, I can see them storing money away for Peca...but Yashin?? Yashin may be what we call a "world class player", but whenever the playoffs come around, well...he's just not around. Peca, on the other hand...you know what you're getting...A great, hard working leader who can hit and score for you every night. I think it would make more sense if the situation was reversed...

pillerup ....... right on the money buddy!
lappy!..........take a chil pill man, the islanders sucked in the past ,(after billy smith and mike bosy) milbury is an idiot , and there are lots of guys who think that they should give up there "do you remember bosy" additude !they strike an amazing resemblence to the leafs of the 70`s , sending talent in the other direction, berard, chzeousky(or whatever) and most importantly palphy. they suck!and giving yashen 90mil shows there stupid too.:goof:

budman,SC-Lee is a Sens fan that wrote an uninformed article, bashing the NYI after the Yashin trade to NY.Instead of concentrating on the team he knows and follows,he wrote about one he knows little about.As for stupid moves Sundin's a softie not worth his money.Yashin had 40 goals,Sundin had 28.